Shed Productions plc, one of the UK's leading independent production companies, is pleased to announce the re-commission of its BBC1 drama, Waterloo Road.
BBC has informed Shed that it will commission 12 episodes for a second series of Waterloo Road. This represents a 50 per cent increase in the number of hours commissioned compared with series one.
Eileen Gallagher, CEO of Shed said: "We are delighted with the re-commission of Waterloo Road. To receive a 50 per cent increase in the number of episodes compared with the first series is a clear indication of its success. The ratings have been strong, especially amongst the young audience, and it has been critically acclaimed.
"This is the third peak-time adult drama which Shed has delivered that has gone to a second series, reinforcing Shed's abilty to produce long-running, high quality, returnable programmes."
BAD GIRLS is back for a hard hitting eighth series. Life on G Wing is shaken up irrevocably when new Wing Governor Louise ‘Lou’ Stoke (Amanda Donohoe) takes the helm at a time of crisis. Ex-Army Governing Governor Joy Masterton (Ellie Haddington) likes to run G Wing with a rod of iron, but Lou has some very different ideas and she’s not afraid to fight for them…
With a suspected terrorist on the wing, a new Prison Officer Donny Kimber (Sid Owen) is on a secret mission. Fancying himself as a bit of a ‘James Bond’, he couldn’t be more thrilled when he’s asked to be a secret Police Liaison Officer! He’s undercover, but how long will it take until he’s found out – especially when he gets cosy with one of the inmates?
Sylvia Hollamby ‘Bodybag’ (Helen Fraser) is miffed when she is passed over for the New Wing Governor’s position.
New Doctor Rowan (Colin Salmon) is assigned to Larkhall prison. But it is soon clear he has an agenda.
Pat Kerrigan (Liz May Brice) still regarded as top dog, is driven to the edge by Natalie Buxton (Dannielle Brent). Could this be the end for one of them?
Prison officers and inmates alike are in for a tough ride this year.
A Shed Production for ITV1.
Series Eight
10 episodes plus a Christmas Episode
www.badgirls.co.uk
Click HERE to download a copy of Shed's Annual Results for 2005.
Shed Productions plc, one of the UK’s leading independent television production companies, responsible for long-running dramas, Footballers’ Wives and Bad Girls, is pleased to announce the acquisition of Ricochet Limited, creators of programmes including Supernanny, It’s Me or the Dog and How Not to Decorate.
Summary
• Ricochet is a leading UK independent production company that produces high quality factual entertainment series, international formats and documentary series for major broadcasters in both the UK and the US.
• Ricochet specialises in long running series and returning brands.
• Ricochet programmes include the global hit 'Supernanny', as well as 'It's Me Or The Dog', 'Risking It All', 'How Not To Decorate', 'Who Rules The Roost?', 'Selling Houses', 'Born to be Different', and 'No Going Back'.
• Ricochet produces 'Supernanny' in the US for the ABC network where it is in its second season.
• Initial consideration for Ricochet is £25.0 million in shares, cash and loan notes, with a further £5.0 million in shares payable conditional upon performance in the periods ending 31 August 2006 and 30 April 2007.
• In the year ended 30 April 2005, Ricochet generated unaudited pro forma consolidated profit before tax of £2.1 million on turnover of £15.3 million.
• The transaction is expected to be earnings enhancing in the current financial year.
• Shed welcomes Nick Powell and Nick Southgate, Ricochet's Managing Director and Creative Director respectively, to the Board of Shed.
• Shed also announces that its US agents have closed a first look and script deal with Fox Network and a format deal for 'Bad Girls' with cable network FX.
• Ricochet announces that ABC in America have picked up a further 8 episodes of 'Supernanny' taking the season run to 22.
Eileen Gallagher, Chief Executive Officer of Shed commented:
"Ricochet is a truly quality company and a perfect fit for Shed. It has a talented, driven management team that has built a broad range of high quality entertainment and factual programmes and formats over the last 10 years. Like Shed, the management prides itself in delivering profit to investors as well as high quality programmes for its broadcast customers. Nick Powell and Nick Southgate will both be joining the Shed Board and the Shed team look forward to driving the business forward together."
Nick Powell and Nick Southgate, Ricochet's Managing Director and Creative Director respectively, commented:
"Shed is admired throughout the industry for their creative talent and strong management. The opportunity of joining them was irresistible.
Like Shed, Ricochet prides itself on making programmes that people love to watch and talk about. We share qualities which will allow us to create unique opportunities in the future, ensuring that we continue to expand and make memorable TV both here and abroad. We look forward to an exciting future together."
Acquisition Rationale
Shed's strategy from flotation has been to grow both organically, and through the acquisition of suitable production company targets that fit the strict criteria of offering shareholder value, creative fit and where the key creative talent is tied in by ownership.
The acquisition of Ricochet is consistent with these principles. It is expected to be earnings enhancing in the current financial year. Ricochet's wide ranging programme slate broadens Shed's product offering to broadcasters, whilst Ricochet's existing relationships with US broadcasters provide Shed with an exciting opportunity to make further inroads into the US market. In addition, Ricochet qualifies as a regional independent and, as such, benefits from strict regional production quotas applied to UK broadcasters. Furthermore, Shed intends to fully exploit the ancillary rights to Ricochet's productions through wider distribution of international, DVD and licensing rights.
Ricochet has an experienced management and creative team, and Shed is pleased to announce the appointments of both Nick Southgate and Nick Powell to the Board of Shed as executive Directors. Both have been allotted new ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") as part of the consideration for Ricochet, following which Nick Powell will have an interest in 4,836,785 new Ordinary Shares and Nick Southgate will have an interest in 2,195,358 new Ordinary Shares, representing 8.1% and 3.7% of the enlarged issued share capital of the Company respectively. These shareholdings are subject to lock-in arrangements for one year, with orderly market arrangements for one year thereafter.
Consideration
Initial consideration of £25.0 million is to be satisfied as to £7.5 million in cash, £10.0 million through the issue of 9,916,944 new Ordinary Shares at 100.8375 pence per share (being the average of the closing prices on the 20 business days preceding the date of completion), representing 16.6% of the enlarged issued share capital of the Company, and £7.5 million in loan notes redeemable from the first anniversary of completion. Application will be made for the new Ordinary Shares to be admitted to trading, and admission is expected to occur on 1 December 2005. These new Ordinary Shares will not rank for the dividend declared on 16 November 2005 in respect of the financial year ended 31 August 2005. The cash element of the consideration will be funded from Shed's existing cash resources and a new £4.0 million revolving credit facility.
In addition, subject to certain performance criteria for the periods to 31 August 2006 and 30 April 2007, additional consideration of up to £5.0 million will be payable in new Ordinary Shares. The total maximum consideration is therefore £30.0 million.
Ricochet is being acquired on a cash and debt free basis, subject to sufficient funding for its current working capital requirements remaining in the business.
Information on Ricochet
Ricochet is a leading UK independent production company, and produces high quality factual entertainment programming and documentaries for major broadcasters in both the UK and the US. Ricochet has a reputation for innovative and award winning programming; with recent successes including the global hit 'Supernanny', now broadcasting in 37 territories and in its second series on Channel 4 in the UK and on the ABC network in the US. Other programmes that Ricochet has produced and which are now in their subsequent series include: 'It's Me Or The Dog', 'How Not To Decorate, 'Risking It All', 'Who Rules The Roost?', 'Selling Houses', 'Born to be Different' and 'No Going Back'.
Ricochet has strong relationships with broadcasters in both the UK and the US including Channel 4, BBC, Five, ABC and Discovery. Ricochet continues to build on these relationships and develop programming for other broadcasters on both sides of the Atlantic.
In Ricochet's 2005 financial year, the number of hours commissioned increased by 92% on 2004. Ricochet expects a further increase of over 70% in the 2006 financial year, on which it has good visibility with 91% of expected hours already commissioned.
US Update
Shed further announces that its US agents, UTA (United Talent Agency), have closed two deals in the US market on Shed’s behalf. The first is a "first look" and script deal with Fox Broadcasting Corporation in which Shed is paid to develop original drama programming for the Fox Network. The second is a format deal with cable broadcaster FX, part of the Fox family of channels, enabling it to develop a US version of the UK hit 'Bad Girls'.
Ricochet also announces that the ABC network in the US has now confirmed a further order of 8 episodes for the current series of 'Supernanny' bringing the second season run up to a total of 22 hours. This increased commission, awarded 6 months before the contractual deadline, underlines the confidence the network has in 'Supernanny.
After seven years banged up on the small screen it's time for a breakout. The infamous inmates of HMP Larkhall are escaping to the West Yorkshire Playhouse in Leeds in the world premiere of Bad Girls - The Musical from 27th May to 1st July 2006.
Based on original characters from the popular, award winning TV series, Bad Girls - The Musical sees new Wing Governor, Helen Stewart, take on G-Wing's inmates and officers in a dangerous mix of deception, romance, riots and revenge. Can the idealistic new girl really change things for the better, or will corrupt screw Jim Fenner stop at nothing to see her fail?
Written by the creators of the TV series, with the characteristic blend of hard-hitting drama and heart-warming comedy, this exciting new musical is packed with fresh, funny and original songs. If you're out for a good time - bad girls do it best.
For more information and to find out how to book tickets, please visit the Official Bad Girls - The Musical website or the West Yorkshire Playhouse website.
